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RE: Steem Witness Survey V1

in #witness-category5 years ago

HF20 removed the conservative cushion that SBD had with the intention to artificially overinflate the SBD supply. I voiced my opinion that this was dangerous. I also recommend that witnesses and Steemit Inc consult economic experts before rolling out this change, which never happened. Now we have SBD haircut for the first time ever.

I have one more question to add:
Are you going to accept future changes to our currency without consulting an economic expert?

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There would have been the same SBD "haircut" with or without the change in HF20. Those two events are not related and the timing is merely coincidental. @timcliff, who proposed and coded the change, had very solid reasoning for it, and I consider him and a number of the other top witnesses at the time who approved and supported the change to be experts in these matters.

So that is a NO or YES?

It's an "it depends". If I feel that a change requires bringing in an outside opinion then I will pursue that. If I don't think it requires that, such as in this particular case, then I won't.

Thanks, I think we all can appreciate the consideration to perform a proper review if it is necessary.

It could be as simple as going to your local college and finding a professor of economics. Someone that has been trained in economics and has dedicated their self to the field. I'm sure that a professor of economics will be thrilled to explore it. The professor may even get some students to perform a case study on the currency and possible outcomes with the change. You might even intrigue the professor enough to join.

Finally, your voters will appreciate that you took the initiative to get a proper review.

That's a great idea, regardless of whether or not there are new proposed changes to the Steem economic model. You also don't need to be a witness to do it :-)